EZFill Holdings, Inc. Secures Multiple Financing Agreements

EZFill Holdings, Inc. (NASDAQ: EZFL) recently entered into several significant financial agreements, as per the company’s 8-K SEC filing dated December 26, 2024.

One of the key agreements highlighted in the filing was the promissory note dated December 26, 2024, between EZFill Holdings, Inc. and Gad International Ltd. This promissory note, totaling $2,500,000, was earmarked to fulfill the company’s working capital needs, particularly for equipment acquisitions. The note outlines a repayment deadline of February 23, 2025, with provisions for interest payments and additional fees in certain scenarios.

Another noteworthy agreement detailed in the filing was a promissory note dated December 30, 2024, between EZFill Holdings, Inc. and NextNRG Holding Corp. The note, amounting to $330,000 with an 8% fixed annual interest rate, aimed to support the company’s working capital requirements, including equipment purchases. The note’s repayment deadline was set for December 30, 2025, with provisions for potential conversion into common stock under specific conditions.

Furthermore, EZFill Holdings, Inc. established various receivable financing arrangements on December 27, 2024, with GALT FUNDING Co., Redstone Advance Inc., and Funderzgroup LLC dba Mr. Advance to bolster its financial position. These agreements, collectively known as the Receivable Financing Agreements, are anticipated to remain in effect for about six months from their commencement date, contingent upon the repayment of financed amounts.

The filing also outlined specific terms and conditions related to possible stock issuances and conversion mechanisms in case of default scenarios.

EZFill Holdings, Inc.’s strategic financial moves underscore its proactive approach to strengthening its financial structure, optimizing its working capital, and facilitating equipment acquisitions. These agreements are vital for the company’s operational vitality and growth prospects moving forward.

Investors and stakeholders are advised to review the complete details of these agreements in the provided SEC filing to gain a comprehensive understanding of EZFill Holdings, Inc.’s financial outlook and strategic initiatives.

The potential implications of these financing arrangements and their impact on EZFill Holdings, Inc.’s future performance remain subjects of interest within the financial community.

This article contains forward-looking statements, and readers are encouraged to refer to the original filing for a detailed representation of the company’s financial agreements and prospects.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read EZFill’s 8K filing here.

About EZFill

EZFill Holdings Inc operates as a mobile fueling company primarily in Florida. It offers on-demand fueling services to consumer, fleet, marine, and other specialty markets. The company was incorporated in 2019 and is based in Miami, Florida.